The Famous Millionaire


Chapter 288 - Chapter 282

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Chapter 288: Chapter 282

Hyunwoo’s takeover of Samryong Motors was a big concern to many people. They were interested not only in making a smash hit with Samryong Motors but also how much wealth he had.

“How rich is he?”

“I guess at least 10 trillion won?”

“Maybe he already surpassed Konho Ahn, CEO of Ohsung Group in terms of personal wealth.”

In fact, Hyunwoo was curious about that, too.

‘How much money do I have now?’

He could estimate his wealth, but it was impossible to figure it out accurately. Though KOVE DREAM, Ani & Funny and N&C Korea were all corporations, they were not listed on the stock market. Only Samryong Motors was listed on KOSPI.

Many of the public also showed interest in his personal wealth. When it became the talk of the town, his father Duyoung jokingly asked, “How much money do you have?”

He just smiled and said, “Haha, I don’t know exactly how much I’ve got. This summer I’m going to get Ani & Funny as well as KOVE DREAM listed on the KOSPI officially. Then I think I can figure out the exact size of my wealth.”

“That’s a good move. In fact, it’s well overdue. When you officially get them listed, you can make use of them much better. I guess you can figure out the size of your wealth then.”

Was it the reason? Duyoung kept asking about his financial matters.

“By the way, how much sales and profits are your companies are making? I hear you’re making a huge sum of money…”

In fact, he received a written report on final accounts.

And the sales and net profits were really surprising.

In particular, Ani & Funny’s was impressive.

It produced new animated movies and seven short stories in the market last year.

Thanks to Yenam Noh’s brilliant activities, not a single work failed, raking in huge revenues. In particular, one movie and two short stories hit box offices in an unprecedented way.

Garbage World, Tuti & Angelica and Iron Worm were all making a smash hit.

The revenues through books were also large. The biggest source of revenue was the secondary revenues through the merchandising of the animated characters.

When all the sales were combined, the total revenues amounted to about 6 trillion won.

Of course, the expenses related to the growing activities of the companies were also snowballing rapidly. There were 250 full-time employees and 200 part-timers.

Besides, there were about 12,000 seasonal workers at the Ani & Funny’s internet cafe.

So, the regular salaries were 800 billion won, and when other expenses were added, the total expenses in Korea alone were 1.2 trillion won.

Hyunwoo ran the branches in Vietnam, China and India.

The overseas staff in Vietnam numbered 4,000, 12,000 in China and 4,000 in India. The overall salaries of these overseas employees were 300 billion won.

But the overseas companies paid more secondary costs than staff salaries. It was almost 900 billion won, all told.

Still, Hyunwoo’s net profits were 4 trillion won.

Thanks to this huge capital funds, Hyunwoo could expand the Kennyland under construction in Sosan City, and he was planning to build similar theme parks overseas, including China and America.

Compared with Ani & Funny, the revenues of KOVE DREAM were small. Its net profits were only 300 billion won.

The poor performance of KOVE DREAM was not because of the decrease in its sales. Rather its sales were increasing by 30% every year with the addition of its member countries.

The main reason for it was the lowering of its membership fees. As many large companies competed to imitate KOVE DREAM in a war of low fees, KOVE DREAM sold their products with little profit.

But the total profits of KOVE DREAM were more than 3 trillion won because of the returns on investments. The number of companies Hyunwoo had a stake in as of today was 73, including 27 additions from last year. 15 companies out of them hit the jackpot while another 15 made a big hit. On the other hand, there were 14 companies that went bankrupt.

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KOVE DREAM was no more a sales company but an equities fund like OneStar.

N&C Korea was incorporated into KOVE DREAM last year. Jaegyong Kang and Sungrak Sohn, the co-representatives of N&C Korea, were promoted to vice chairman of general sales and subscription sales departments, respectively. Juhwan Moon and Sonjong Kim became the director of instant sales and planning departments, respectively.

Hyunwoo pitted the directors against them in selecting the future CEO of KOVE DREAM.

To be its first CEO, all of them really worked hard.

Now all the attention of the public was focused on the initial public offering (IPO) of Ani & Funny as well as the coming of KOVE DREAM stocks because listing them on KOSPI was around the corner.

“Wow, how much can its market capitalization be?”

“Can it surpass Ohsung Group?”

“That won’t be easy.”

“Can Ani & Funny compete with Tony World of the USA?”

“The market capitalization of Tony World is more than 130 trillion won. Even though Ani & Funny enjoys such remarkable growth, it won’t be easy to surpass Tony World.”

“I can’t wait to see the IPO of Ani & Funny and KOVE DREAM.”

Hyunwoo was as anxious as them. He couldn’t go to sleep as he was so thrilled on the eve of the IPO day.

Finally, the IPO day came. Ani & Funny and KOVE DREAM were listed on KOSPI on the same day.

The market reaction was explosive.

Hyunwoo put the IPO price of Ani & Funny at 100,000 won.

As the number of issued stocks was 200 million, he estimated its market capitalization at 20 trillion won.

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Some were concerned about the high IPO price, pointing out that its right IPO price was 80,000 won.


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